Home Business Societe Generale delivers large earnings beat after second-quarter loss

Societe Generale delivers large earnings beat after second-quarter loss

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A emblem exterior a Societe Generale SA financial institution department in Paris, France.

Bloomberg | Bloomberg | Getty Pictures

LONDON — Societe Generale reported a web revenue of 862 million euros ($ 1.011 billion) for the third quarter on Thursday.

Analysts had estimated a web revenue of 458 million euros for the quarter, in accordance with Refinitiv.

This comes after the French bank reported a net loss of 1.26 billion euros for the second quarter of the yr because of Covid-related provisions and the lowered worth of its buying and selling enterprise.

Shares of Societe Generale are down about 58% year-to-date.

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